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Rocketlane raises $3M co-led by Matrix Partners India and Nexus Venture Partners

23rd June 2021. California/India: Rocketlane, a B2B SaaS startup, announced today that it has raised $3M in seed funding for its transformative customer onboarding software, from Matrix Partners India and Nexus Venture Partners. The funding also saw participation from angel investors such as, Shreesha Ramdas (CEO, Strikedeck), Jonathan Swanson (Co-founder of Thumbtack), Krish Subramanian & Rajaraman Santhanam (Co-founders of Chargebee), Yamini Bhat (CEO, Vymo), Pradeep Rathinam (CCO of Freshworks), and other leading founders and executives.

Rocketlane offers a purpose-built unified workspace for collaborating with customers on onboarding projects. The platform helps businesses shorten their time-to-value, streamline their software implementation journeys, and provide real-time visibility, while elevating the customer experience.

The two-time entrepreneur trio of Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala founded Rocketlane in April 2020. They previously managed Freshchat at Freshworks, after the latter acquired their chat business Konotor (that powered chat in apps like Zomato, Swiggy, Big Basket) in 2015. While growing Freshchat globally and working with larger enterprise customers, they experienced firsthand the difficulties, and understood the importance of customer onboarding.

“Conversations with 100+ customer onboarding and implementation leaders highlighted challenges arising from generic project management and collaboration tools. The feedback has helped us shape Rocketlane, set the course for the future, and even start Preflight - a Slack-based community for CS & Onboarding professionals. We are now a team of twenty five working remotely with a vision to create the gold standard for customer onboarding”, says CEO Srikrishnan Ganesan.

The launch comes after a successful early access program with Aryaka Networks, Joveo, and Netcore among other businesses who switched to Rocketlane for their implementation and onboarding projects.

“Onboarding is becoming the new bottleneck for fast-growing enterprise SaaS ventures, and top VCs are watching the gap between the Live ARR and Contracted ARR among their portfolio companies”, adds CEO Srikrishnan Ganesan. “There’s a software platform for almost every other stage of the customer journey - sales, customer success, support, etc. But in customer onboarding, most make do with spreadsheets and general-purpose collaboration/project tools and achieve impaired results. The lack of a purpose-built system for onboarding leads to a hit-or-miss execution and a dependence on the heroics of individuals, which in turn leads to delays and botched implementations. Rocketlane aims to fix that”.

The funds will be used to hire additional talent, and continue establishing their leadership in product and mindshare in a new and emerging category.

Sameer Brij Verma, Managing Director, Nexus Venture, said, “We are proud to partner with Rocketlane to redefine the customer-onboarding and professional services automation category via our industry-first collaborative purpose-built onboarding platform. Rocketlane's offering allows software and ITES companies to accelerate their time-to-revenue, intelligently manage their client delivery lifecycle with superior internal resource management on an unified workspace and massively increase customer satisfaction across every client delivery action item.”

Vikram Vaidyanathan, Managing Director, Matrix India, commented, “Sri, Vignesh, Deepak are serial SaaS entrepreneurs who’ve worked together for almost a decade, have deep SaaS expertise and a rich shared history. With Rocketlane, they’re creating the benchmark experience for client on-boarding and building a global brand. We’re excited to back their vision and privileged to partner with them.”
About Rocketlane:
Rocketlane, with its purpose-built customer onboarding platform, enables businesses to accelerate their time-to-value, achieve faster go-lives, increase renewals, and boost customer satisfaction. The platform replaces general project management and document collaboration tools with a unique, unified workspace that improves communication, collaboration, and project visibility for teams and their customers. With insights from trends and benchmarks across projects, teams can develop and optimize playbooks and best practices with continuous improvement. For more information, visit www.rocketlane.com
Link to a short demo of Rocketlane: https://www.youtube.com/watch?v=Q1aoosk1c0c
About Preflight, an invite-only community:
Rocketlane caters to the underserved customer onboarding and implementation community via Preflight, an invite-only Slack group having over 550 practitioners and leaders from top companies like Gainsight, Zendesk, Appsflyer, etc. Members get access to exclusive events, resources, and a forum to connect, engage, and grow through peer learning. Check out Preflight: www.preflight.cx
About Nexus Venture Partners:
Nexus Venture Partners is a leading early-stage venture capital firm partnering with extraordinary entrepreneurs building product-first companies. With $1.5B under management, Nexus operates as one team across the US and India. The Nexus family includes Aryaka, Biz2Credit, Cloud.com, Clover Health, Delhivery, Druva, Gluster, H2O.ai, Hasura, Headspin, Kaltura, Mezi, Observe.ai, OLX, Paysense, Postman, Pubmatic, Rancher, Snapdeal, Unacademy, Whitehatjr, and Zomato. For more information, visit www.nexusvp.com
About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early, and early growth stages. Matrix India has invested in several market-leading companies such as Ola (mobility), Dailyhunt (mobile local language platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Ola Electric (electric vehicles), Razorpay (payments), Stanza Living (tech-enabled student housing platform), OneCard (mobile-first credit card), Country Delight (D2C dairy & fresh foods brand), DealShare (social commerce platform), MoEngage (intelligent marketing cloud platform), SuperOps.ai (all-in-one MSP platform) and Cloudnine Hospitals (leading chain of maternity hospitals) among others. Matrix India has advisory offices in Bangalore, Delhi, and Mumbai. Matrix Partners has a global network of funds investing in the US, China, and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.